Goodwill and Intangible Assets, net (Tables)

3 Months Ended

Mar. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of intangible assets

The gross carrying amount and accumulated amortization of the Company’s intangible assets, net, as of March 31, 2022 were as follows:

(in thousands)	Gross Carrying Value		Accumulated Amortization		Net Carrying Value		Estimated Useful Life (Years)
Trademarks	$	10,072	$	(3,611)	$	6,461	15
Non-compete agreement	805		(356)		449		3
Customer relationships	18,629		(5,095)		13,534		5-10
Developed technology	70,900		(47,267)		23,633		8
Patents	2,146		(320)		1,826		3-19
Capitalized software	10,016		(3,375)		6,641		3-5
Total intangible assets	$	112,568	$	(60,024)	$	52,544

The gross carrying amount and accumulated amortization of the Company’s intangible assets, net, as of December 31, 2021 were as follows:

(in thousands)	Gross Carrying Value		Accumulated Amortization		Net Carrying Value		Estimated Useful Life (Years)
Trademarks	$	10,048	$	(3,442)	$	6,606	15
Non-compete agreement	809		(139)		670		3
Customer relationships	18,625		(4,391)		14,234		5-10
Developed technology	70,900		(45,051)		25,849		8
Patents	2,050		(295)		1,755		3-19
Capitalized software	9,867		(2,971)		6,896		3-5
Total intangible assets	$	112,299	$	(56,289)	$	56,010

Schedule of intangible assets amortization expense

Amortization expense was as follows for the periods indicated:

	Three Months Ended March 31,
(in thousands)	2022		2021
Cost of sales	$	2,241	$	2,231
General and administrative	298		502
Selling and marketing	635		188
Total amortization expense	$	3,174	$	2,921

Schedule of goodwill

The changes in the carrying value of goodwill are as follows:

	Three Months Ended March 31,
(in thousands)	2022		2021
Beginning balance	$	123,694	$	98,531
Measurement period adjustments - Ecomedic	174		—
Foreign currency translation impact	(94)		4
Ending balance	$	123,774	$	98,535